iSAM Funds UK Ltd Takes $639,000 Position in Molson Coors Beverage (NYSE:TAP)

iSAM Funds UK Ltd bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,149 shares of the company's stock, valued at approximately $639,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Randolph Co Inc raised its position in Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after buying an additional 98,984 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after buying an additional 10,080 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares during the period. Unified Investment Management purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $871,000. Finally, Wilsey Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after buying an additional 8,679 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target for the company. Morgan Stanley decreased their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, UBS Group decreased their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.71.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $56.62 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a fifty day moving average of $58.55 and a two-hundred day moving average of $58.46. The stock has a market capitalization of $11.47 billion, a PE ratio of 10.58, a P/E/G ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The business's revenue was down 11.3% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.

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